Livingston Group Asset Management CO operating as Southport Capital Management boosted its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 53.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,725 shares of the textile maker’s stock after purchasing an additional 19,100 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Hanesbrands were worth $1,009,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Cascade Investment Advisors Inc. raised its stake in Hanesbrands by 17.6% during the third quarter. Cascade Investment Advisors Inc. now owns 57,680 shares of the textile maker’s stock valued at $1,063,000 after purchasing an additional 8,625 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Hanesbrands during the third quarter valued at $250,000. CX Institutional raised its stake in Hanesbrands by 7.6% during the third quarter. CX Institutional now owns 140,599 shares of the textile maker’s stock valued at $2,591,000 after purchasing an additional 9,934 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Hanesbrands by 7.9% during the third quarter. State of Alaska Department of Revenue now owns 87,653 shares of the textile maker’s stock valued at $1,614,000 after purchasing an additional 6,445 shares in the last quarter. Finally, Pennsylvania Trust Co raised its stake in Hanesbrands by 3.8% during the third quarter. Pennsylvania Trust Co now owns 176,723 shares of the textile maker’s stock valued at $3,257,000 after purchasing an additional 6,400 shares in the last quarter. 99.58% of the stock is currently owned by institutional investors.
HBI stock traded up $0.18 during mid-day trading on Friday, reaching $16.35. 328,429 shares of the stock traded hands, compared to its average volume of 6,356,604. The company has a quick ratio of 0.84, a current ratio of 2.02 and a debt-to-equity ratio of 5.41. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.05 and a beta of 0.37. Hanesbrands Inc. has a one year low of $16.15 and a one year high of $24.12.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Wednesday, August 1st. The textile maker reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Hanesbrands had a return on equity of 78.67% and a net margin of 0.58%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts expect that Hanesbrands Inc. will post 1.76 EPS for the current year.
A number of research firms have weighed in on HBI. Zacks Investment Research upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Tuesday, July 24th. Credit Suisse Group cut their price objective on shares of Hanesbrands from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 2nd. UBS Group began coverage on shares of Hanesbrands in a research report on Thursday, June 21st. They set a “neutral” rating and a $22.00 price objective on the stock. ValuEngine cut shares of Hanesbrands from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Finally, Buckingham Research cut their price objective on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.88.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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